The difference between a guarantee and an indemnity is that
A) the guarantor has unlimited liability for any debts of the prinicipal debtor
B) the person who signs the indemnity can be called on before the principal debtor to repay the debt
C) the person who signs the indemnity has unlimited liability for any debts of the principal debtor
D) the person who signs the guarantee can be called on before the principal debtor to repay the debt
E) there is no difference between a guarantee and an indemnity
Correct Answer:
Verified
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A)Payor
B)Drawee
C)Drawer
D)Payee
E)Creditor
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